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The discussions underscored Africa’s investment readiness and the growing momentum for impactful Japanese-African cooperation
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Tokyo
The African Trade & Investment Development Insurance (ATIDI), Mitsubishi UFJ Financial Group (MUFG), and Nippon Export and Investment Insurance (NEXI) co-hosted a high-level side event on the margins of the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama. The event convened senior government officials, investors, development finance institutions, and private sector leaders, including prominent Japanese companies, to explore strategies for scaling up sustainable Japanese investment in Africa.
The discussions underscored Africa’s investment readiness and the growing momentum for impactful Japanese-African cooperation.
Japanese businesses are increasingly targeting Africa’s fast-growing markets in infrastructure, telecommunications, manufacturing, and energy. MUFG, Japan’s largest financial institution, has been active in financing major projects across the continent, while NEXI—Japan’s official export credit agency—became a shareholder of ATIDI in 2023 with a USD 15.1 million capital investment, reinforcing its commitment to de-risking Japanese ventures in Africa.
Safaricom Ethiopia: A Landmark FDI Project
Under the theme “Unlocking Japanese Private Sector Investment in Africa”, the first session showcased the liberalization of Ethiopia’s telecom sector and the launch of Safaricom Telecommunications Ethiopia Plc (STE). The project represents Ethiopia’s single largest FDI and one of the most significant Japanese-backed ventures on the continent.
ATIDI played a pivotal role in enabling this milestone by issuing a 10-year Political Risk Insurance (PRI) policy to Sumitomo Corporation, a Japanese investor in the STE consortium, with NEXI providing reinsurance support. The policy covers risks including expropriation, currency inconvertibility, and breach of contract.
“Unlocking Africa’s vast potential requires bold partnerships and innovative risk solutions,” said Manuel Moses, CEO of ATIDI. “By working with MUFG and NEXI, we are enabling landmark projects like Safaricom Ethiopia and paving the way for deeper Japanese private sector engagement across the continent.”
De-risking Capital for Africa’s Growth
The second session focused on mobilizing institutional and private capital from Japan into sectors such as infrastructure, energy, and digital transformation. Speakers highlighted the role of blended finance, public-private partnerships, and risk mitigation in unlocking large-scale investments. MUFG shared expertise in structuring cross-border financing, while ATIDI showcased its expanding portfolio of investor-focused insurance solutions.
“As part of our commitment to fostering sustainable development and new opportunities for Japanese corporates in Africa, MUFG is proud to collaborate with ATIDI and NEXI on this pivotal initiative,” said Ankit Khandelwal, MUFG’s Head of Africa for Sovereigns, DFIs and Blended Finance.
NEXI also reaffirmed its role in supporting Japanese firms expanding into African markets. “Our partnership with ATIDI and MUFG enables us to provide tailored solutions for Japanese companies, including reinsurance for landmark projects like Safaricom Ethiopia,” said Atsuo Kuroda, Chairman and CEO of NEXI.
ATIDI–MUFG Memorandum of Understanding
On the sidelines of TICAD9, ATIDI and MUFG signed a Memorandum of Understanding (MoU) to strengthen collaboration in delivering innovative risk mitigation solutions for Japanese investors in Africa. ATIDI currently supports 72 active policies across several African countries, covering transactions worth more than USD 5.4 billion, while MUFG’s arranged financing exposures in Africa total approximately USD 1.86 billion.
About the Organizers
ATIDI was established in 2001 by African states to cover trade and investment risks. It has supported more than USD 88 billion in investments and trade across Africa and is rated A/Stable by Standard & Poor’s and A2/Stable by Moody’s. In 2025, ATIDI was named Development Finance Institution of the Year at the African Banker Awards. www.atidi.africa
MUFG is one of the world’s leading financial groups, headquartered in Tokyo with a presence in more than 40 countries. It provides commercial banking, trust banking, securities, asset management, and other services through its network of approximately 2,000 locations. www.mufg.jp/english
NEXI is Japan’s official export credit agency, wholly owned by the government, providing insurance to support Japanese companies’ cross-border trade, investment, and financing. As of March 2025, NEXI’s outstanding commitments to Africa stand at 1.5 trillion yen, covering about 30% of Japan’s exports to the continent.
Torch Media Africa
